Zurcher Kantonalbank Zurich Cantonalbank Has $18.74 Million Position in Hess Co. (NYSE:HES)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hess Co. (NYSE:HES) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,977 shares of the oil and gas producer’s stock after buying an additional 8,439 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hess were worth $18,737,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Arvest Investments Inc. acquired a new position in shares of Hess during the 4th quarter worth about $1,407,000. Exchange Traded Concepts LLC increased its stake in Hess by 1,456.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock worth $1,082,000 after purchasing an additional 7,022 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Hess during the 4th quarter worth approximately $967,000. Miller Howard Investments Inc. NY lifted its stake in Hess by 75.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock valued at $5,658,000 after buying an additional 16,861 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Hess by 8.7% in the third quarter. California State Teachers Retirement System now owns 564,454 shares of the oil and gas producer’s stock valued at $86,361,000 after buying an additional 45,246 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Timothy B. Goodell sold 2,701 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The sale was disclosed in a filing with the SEC, which is available through this link. In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now owns 50,215 shares in the company, valued at $7,257,071.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HES. StockNews.com began coverage on shares of Hess in a research note on Wednesday. They issued a “sell” rating on the stock. Mizuho lifted their price target on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Piper Sandler lifted their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Susquehanna lifted their price target on shares of Hess from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and a consensus target price of $176.75.

Hess Stock Performance

Shares of HES stock opened at $151.78 on Friday. The firm has a market cap of $46.76 billion, a PE ratio of 33.73 and a beta of 1.27. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75. The company’s fifty day simple moving average is $149.71 and its 200-day simple moving average is $146.79. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share. Equities research analysts expect that Hess Co. will post 8.09 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.15%. Hess’s payout ratio is 38.89%.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.